Thermal management systems generally may be configured to regulate the temperature of a process fluid, such as an engine oil, via thermal exchange between the process fluid and a thermal management fluid, such as air. For example, a thermal management system may utilize a stream of cool air to decrease a temperature of a hot oil flowing through a conduit. In some applications, it may be beneficial to modulate a rate at which the process fluid is cooled, such as to increase an efficiency of an engine that utilizes the process fluid. For example, a valve such as a butterfly valve may be selectively actuated to modulate a flow rate of the thermal management fluid that is in thermal contact with the process fluid. However, such valves may be heavy, bulky, and/or expensive, and may require additional components and/or maintenance to ensure reliable operation.